HUNTSVILLE, Ala. — Cornerstone Detention Products announced on April 9 that it has signed an agreement to acquire the Norment Security Group from The Gores Group, a Los Angeles‐based investment firm. Financial terms of the transaction have not yet been disclosed.
Norment, one of the oldest security and detention contractors in the industry, includes the brands Airteq, Trentech and ECS. Airteq manufactures security locks, sliding devices and door hardware, while Trentech and ECS provide custom designed and fabricated electronic security systems. Norment also provides facility maintenance and service operations.
In a release, Mitch Claborn, founder, president and CEO of Cornerstone said, “First and foremost, this is a great alliance between two industry pillars. The acquisition of Norment makes Cornerstone Detention the forerunner in the detention market and positions us to take advantage of an expanded global footprint and stronger distribution channels while enhancing our product and service offering.”
“The combined strength of Cornerstone and Norment will position the new company as a diversified leader in the industry. The new organization will thrive under Cornerstone’s leadership and benefit from unmatched industry expertise,” said Charles Veniez, CEO of Norment Security Group. “I am excited for our employees and the opportunity to continue to provide world class service to our customers.”